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Business objectives Build profitable customer relationships Invest in research Improve profits
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
Marketing objectives Increase market share Create local partnerships Increase promotion
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Identify key businesses (strategic business units, or SBUs) that make up the company Assess the attractiveness of its various SBUs
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Developing Strategies for Growth and Downsizing Market penetration is a growth strategy increasing sales to current market segments without changing the product by improvements in the marketing mix. National introduced chili, coriander, kasuri, turmeric, achar gosht, biryani and haleem, it established nation wide distribution system, it started communication with customers by internet.
Market development is a growth strategy that identifies and develops new market segments for current products. For example national managers explored new geographical markets and expanded into middle east and north America. In 2000 national entered Australia with raj spices a new brand to suit their local taste buds. It also entered India.
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Companywide Strategic Planning Developing Strategies for Growth and Downsizing Product development is a growth strategy that offers new or modified products to existing market segments. For example national added tomato ketchup, various Chinese sauces, jams and jellies, custards and kheer mix and variety of pickles to its product lines. Diversification is a growth strategy through starting up or acquiring businesses outside the companys current products and markets. For socio economic pressures have brought about major changes in the life styles of urban house holds. To address the needs of these consumers national has introduced ronaq brands ready to eat meals including chicken qorma, karahi, ginger.
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Market segmentation is the division of a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes
Market targeting is the process of evaluating each market segments attractiveness and selecting one or more segments to enter
Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Action programs
Budgets
Controls
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